Neurocrine Biosciences Inc. (NBIX) Trading 3.6% Higher

Neurocrine Biosciences Inc. (NASDAQ:NBIX)’s share price traded up 3.6% during trading on Wednesday . The company traded as high as $47.60 and last traded at $47.49, with a volume of 508,082 shares traded. The stock had previously closed at $45.84.

A number of equities analysts have commented on the stock. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $96.00 target price on shares of Neurocrine Biosciences in a research note on Tuesday, June 7th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Neurocrine Biosciences in a research report on Wednesday, May 4th. Jefferies Group reiterated a “buy” rating and set a $61.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, May 25th. Leerink Swann reiterated an “outperform” rating and set a $63.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, June 1st. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $57.00 price target on shares of Neurocrine Biosciences in a research report on Tuesday, April 12th. Ten investment analysts have rated the stock with a buy rating, Neurocrine Biosciences has an average rating of “Buy” and an average price target of $63.90.

The firm’s market capitalization is $4.14 billion. The firm’s 50-day moving average price is $46.69 and its 200 day moving average price is $43.61.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Thursday, May 5th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.07. The firm earned $15 million during the quarter, compared to analysts’ expectations of $15.43 million. Neurocrine Biosciences’s revenue for the quarter was down 24.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.01) earnings per share. On average, equities analysts expect that Neurocrine Biosciences Inc. will post ($1.94) EPS for the current fiscal year.

In other Neurocrine Biosciences news, insider Christopher Flint Obrien sold 25,000 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $45.00, for a total value of $1,125,000.00. Following the transaction, the insider now directly owns 80,044 shares in the company, valued at approximately $3,601,980. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $46.72, for a total transaction of $700,800.00. Following the completion of the transaction, the director now owns 15,464 shares in the company, valued at $722,478.08. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently added to or reduced their stakes in NBIX. Columbus Circle Investors raised its position in Neurocrine Biosciences by 38.3% in the fourth quarter. Columbus Circle Investors now owns 640,417 shares of the company’s stock worth $36,228,000 after buying an additional 177,362 shares during the period. PNC Financial Services Group Inc. raised its position in Neurocrine Biosciences by 17.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 58,020 shares of the company’s stock worth $3,282,000 after buying an additional 8,578 shares during the period. DE Burlo Group Inc. purchased a new position in Neurocrine Biosciences during the fourth quarter worth about $3,018,000. California Public Employees Retirement System raised its position in Neurocrine Biosciences by 16.1% in the fourth quarter. California Public Employees Retirement System now owns 184,200 shares of the company’s stock worth $10,420,000 after buying an additional 25,600 shares during the period. Finally, TD Asset Management Inc. raised its position in Neurocrine Biosciences by 6.9% in the fourth quarter. TD Asset Management Inc. now owns 238,700 shares of the company’s stock worth $13,503,000 after buying an additional 15,500 shares during the period.

Neurocrine Biosciences, Inc is engaged in the development of pharmaceutical products focused on neurological and endocrine-based diseases and disorders. The Company’s two lead late-stage clinical programs are Elagolix, a gonadotropin-releasing hormone (GnRH) antagonist for women’s health that is partnered with AbbVie Inc (AbbVie), and NBI-98854 (valbenazine), a vesicular monoamine transporter 2 (VMAT2) inhibitor for the treatment of movement disorders.